EUR/USD: bears going to test 55 MA

EUR/USD: bears going to test 55 MA


The price is still consolidating between the levels 1.1959 - 1.1875. So, bears are likely going to test the 55 Moving Average, which could act as support. If so, there'll be an opportunity to have an upward correction towards the nearest resistance at 1.1975 - 1.2003.


There's a consolidation, which is taking place above the Moving Averages. It's likely that the market is going to test the closest support at 1.1874 - 1.1864. If a pullback from this area happens, bulls will try to achieve the next resistance at 1.1975 - 1.2003.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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